When Examining Payroll Transactions, an Auditor Is Primarily Concerned with the Possibility

question 128

Multiple Choice

When examining payroll transactions, an auditor is primarily concerned with the possibility of

• A) incorrect summaries of employee time records.
• B) overpayments and unauthorized payments.
• C) under withholding of amounts required to be withheld.
• D) posting of gross payroll amounts to incorrect salary expense accounts.

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Definitions:

Hidden Objection

A hidden objection is a reservation or concern held by a potential customer that is not openly expressed, often becoming a barrier to closing a sale.

True Objection

A genuine concern or question raised by a customer that needs to be addressed satisfactorily during a sales process.

Psychological Objection

A mental barrier or resistance rooted in personal beliefs or fears, affecting one's decision-making process.

Resistance To Spending

The hesitation or unwillingness of consumers or organizations to use funds for purchasing products or services.